So the Senate has passed a bill raising the minimum wage to $7.25, the first hike in a decade. That version has a bunch of tax breaks for businesses that aren't in the House version, so it's unclear what will happen (especially if the Dems actually stick to their pay-as-you-go budgeting rules). Or when.
Details on the Senate bill here.
Summary of Gary Becker and Richard Posner's recent WSJ op-ed against the min wage, "How To Make the Poor Poorer," here.
Reason on min wage here.